Natural disasters, job loss, or sudden health issues can throw any family into financial turmoil, often without warning. These events bring not only emotional stress but also serious financial challenges. According to Kansas State University Family Resource Management Specialist Elizabeth Kiss, planning ahead can significantly reduce the stress and impact of unexpected expenses.
“If you don’t have an emergency fund, now is the time to start,” says Kiss. “Even a small amount adds up over time.” Setting aside money consistently, even $20-$40 a month, can create a valuable safety net. Ideally, your goal should be to save enough to cover six months of essential expenses based on your normal monthly spending. “The more cash you have, the less you’ll need to put on credit, which you’ll have to pay back with interest,” Kiss adds. To stay on track, treat saving like a regular bill, budget for it every month, and avoid dipping into that money unless it’s truly an emergency. You might even consider keeping the money in a separate account to reduce temptation.
